republic-os/legislation/us/states/in/2023/sb-468.md

---
type: "Bill"
title: "Uniform Commercial Code amendments."
description: "Incorporates into Indiana's Uniform Commercial Code (UCC) the Amendments to the Uniform Commercial Code (2022) approved and recommended for enactment in all states by the Uniform Law Commission (ULC) to address emerging technologies. Makes conforming amendments to general provisions and definitions that apply throughout the UCC. Makes conforming amendments to chapters of the UCC governing the following: (1) Sales. (2) Leases. (3) Negotiable instruments. (4) Fund transfers. (5) Letters of credit. (6) Documents of title. (7) Investment securities. (8) Secured transactions. Repeals the chapter in the UCC governing controllable electronic records. Amends the definition of \"money\" for purposes of Indiana's Uniform Commercial Code (UCC) to specify that money: (1) is a medium of exchange that is not in an electronic form; and (2) does not include a central bank digital currency that is currently adopted, or that may be adopted, by the United States government, a foreign government, a foreign reserve, or a foreign sanctioned central bank. Establishes a new chapter in the UCC that: (1) governs controllable electronic records; and (2) incorporates the provisions of the ULC's amendments governing controllable electronic records. Provides that a \"controllable electronic record\" does not include an electronic record that is currently authorized or adopted by a domestic or foreign government and is not a medium of exchange that was recorded and transferable in a system that existed and operated for the medium of exchange before the medium of exchange was authorized or adopted by a government. Establishes a new chapter in the UCC that: (1) addresses the validity, enforceability, and perfection of certain commercial transactions, including secured transactions, entered into before the effective date of the amendments on July 1, 2023; and (2) establishes July 1, 2025, as an \"adjustment date\" on or after which certain transactions must conform to the requirements of the amendments to remain valid, enforceable, or perfected. Adds language to incorporate into Indiana's UCC the Amendments to Uniform Commercial Code Article 9 (2018), as approved by the American Law Institute and the National Conference of Commissioners of Uniform State Laws. Provides, through the incorporation of these amendments, that the provisions in the UCC providing that restrictions on the transfer of property pledged as collateral are ineffective do not apply in the case of a security interest in an ownership interest in a general partnership, limited partnership, or limited liability company."
jurisdiction: "us/states/in"
legislature: "Indiana General Assembly"
session: "2023"
identifier: "SB 468"
citation: "Indiana SB 468 (2023)"
classification: ["bill"]
subjects: ["COMMERCIAL CODE (UCC)", "INDIANA CODE", "UNIFORM STATE LAWS AND COMPACTS"]
status: "enacted"
primary_sponsors: ["Chris Garten", "Chris Jeter", "Eric Koch", "Greg Taylor"]
version_count: 6
action_count: 27
vote_count: 1
first_action: "2023-01-19"
last_action: "2023-05-04"
source: "openstates"
source_identifier: "ocd-bill/0e909489-2d75-443a-bdb0-53e18fa51587"
source_url: "http://iga.in.gov/legislative/2023/bills/senate/468"
source_hash: "b2070c5c4a609dd7f3448c5eac65f6ce625614a55474e3ff61f68a460a632ac3"
vintage: "2026-07-01"
source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
retrieved_at: "2026-07-06"
confidence: "reported"
tags: ["legislation", "bill", "us-in"]
---

# Indiana SB 468 (2023) — Uniform Commercial Code amendments.

Incorporates into Indiana's Uniform Commercial Code (UCC) the Amendments to the Uniform Commercial Code (2022) approved and recommended for enactment in all states by the Uniform Law Commission (ULC) to address emerging technologies. Makes conforming amendments to general provisions and definitions that apply throughout the UCC. Makes conforming amendments to chapters of the UCC governing the following: (1) Sales. (2) Leases. (3) Negotiable instruments. (4) Fund transfers. (5) Letters of credit. (6) Documents of title. (7) Investment securities. (8) Secured transactions. Repeals the chapter in the UCC governing controllable electronic records. Amends the definition of "money" for purposes of Indiana's Uniform Commercial Code (UCC) to specify that money: (1) is a medium of exchange that is not in an electronic form; and (2) does not include a central bank digital currency that is currently adopted, or that may be adopted, by the United States government, a foreign government, a foreign reserve, or a foreign sanctioned central bank. Establishes a new chapter in the UCC that: (1) governs controllable electronic records; and (2) incorporates the provisions of the ULC's amendments governing controllable electronic records. Provides that a "controllable electronic record" does not include an electronic record that is currently authorized or adopted by a domestic or foreign government and is not a medium of exchange that was recorded and transferable in a system that existed and operated for the medium of exchange before the medium of exchange was authorized or adopted by a government. Establishes a new chapter in the UCC that: (1) addresses the validity, enforceability, and perfection of certain commercial transactions, including secured transactions, entered into before the effective date of the amendments on July 1, 2023; and (2) establishes July 1, 2025, as an "adjustment date" on or after which certain transactions must conform to the requirements of the amendments to remain valid, enforceable, or perfected. Adds language to incorporate into Indiana's UCC the Amendments to Uniform Commercial Code Article 9 (2018), as approved by the American Law Institute and the National Conference of Commissioners of Uniform State Laws. Provides, through the incorporation of these amendments, that the provisions in the UCC providing that restrictions on the transfer of property pledged as collateral are ineffective do not apply in the case of a security interest in an ownership interest in a general partnership, limited partnership, or limited liability company.

## Version chain

The bill's text revisions, in order — the diff chain from filing to enrollment.

1. **Engrossed Senate Bill (H)** (committee substitute) — [source](http://in-proxy.openstates.org/2023/bills/SB0468/versions/SB0468.05.ENGH)
2. **Engrossed Senate Bill (S)** (committee substitute) — [source](http://in-proxy.openstates.org/2023/bills/SB0468/versions/SB0468.03.ENGS)
3. **Enrolled Senate Bill (S)** (committee substitute) — [source](http://in-proxy.openstates.org/2023/bills/SB0468/versions/SB0468.06.ENRH)
4. **Introduced Senate Bill (S)** (committee substitute) — [source](http://in-proxy.openstates.org/2023/bills/SB0468/versions/SB0468.01.INTR)
5. **Senate Bill (H)** (committee substitute) — [source](http://in-proxy.openstates.org/2023/bills/SB0468/versions/SB0468.04.COMH)
6. **Senate Bill (S)** (committee substitute) — [source](http://in-proxy.openstates.org/2023/bills/SB0468/versions/SB0468.02.COMS)

## Votes

- SB 468 - Garten - 3rd Reading — **48–1** (pass) · upper

## Sponsors

- Chris Garten — primary (person)
- Chris Jeter — primary (person)
- Eric Koch — primary (person)
- Greg Taylor — primary (person)
- Aaron Freeman — coauthor (person)
- Chris Judy — cosponsor (person)
- Ed Charbonneau — coauthor (person)
- Gregory Steuerwald — cosponsor (person)
- Liz Brown — coauthor (person)
- Lonnie Randolph — coauthor (person)
- Rodney Pol — coauthor (person)
- Susan Glick — coauthor (person)

## Timeline

The legislative action history — every referral, reading, and vote.

- **2023-01-19** Authored by Senators Garten, Koch, Taylor G
- **2023-01-19** First reading: referred to Committee on Judiciary `reading-1, referral-committee`
- **2023-01-23** Senators Charbonneau, Brown L, Pol added as coauthors
- **2023-01-23** Senator Freeman added as coauthor
- **2023-01-30** Senator Glick added as coauthor
- **2023-01-31** Senator Randolph added as coauthor
- **2023-02-02** Committee report: amend do pass, adopted `committee-passage`
- **2023-02-07** Amendment #1 (Young M) prevailed; voice vote `amendment-passage`
- **2023-02-07** Second reading: amended, ordered engrossed `reading-2`
- **2023-02-09** Third reading: passed; Roll Call 95: yeas 48, nays 1 `passage, reading-3, reading-3`
- **2023-02-09** House sponsor: Representative Jeter
- **2023-02-09** Cosponsor: Representative Steuerwald
- **2023-02-10** Referred to the House `referral`
- **2023-02-28** First reading: referred to Committee on Financial Institutions `reading-1, referral-committee`
- **2023-03-20** Representative Judy added as cosponsor
- **2023-03-30** Committee report: amend do pass, adopted `committee-passage`
- **2023-04-03** Amendment #1 (Judy) prevailed; voice vote `amendment-passage`
- **2023-04-03** Second reading: amended, ordered engrossed `reading-2`
- **2023-04-04** Third reading: passed; Roll Call 361: yeas 95, nays 2 `passage, reading-3, reading-3`
- **2023-04-05** Returned to the Senate with amendments `receipt`
- **2023-04-20** Motion to concur filed `filing`
- **2023-04-20** Senate concurred in House amendments; Roll Call 464: yeas 46, nays 0
- **2023-04-24** Signed by the President Pro Tempore `passage`
- **2023-04-28** Signed by the President of the Senate `passage`
- **2023-05-01** Signed by the Speaker `passage`
- **2023-05-04** Public Law 199 `became-law`
- **2023-05-04** Signed by the Governor `executive-signature`

## Source

OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/0e909489-2d75-443a-bdb0-53e18fa51587`. Confidence: reported (aggregated from official Indiana legislature records).